Consumer sentiment drops in Oct. on stock market correction, Mideast tensions
SEOUL, Oct. 27 (Yonhap) -- Consumer sentiment fell in October due mainly to a st...
Consumer sentiment in South Korea declined in October due to a stock market correction and prolonged tensions in the Middle East, according to a report from the Bank of Korea (BOK). The composite consumer sentiment index (CCSI) dropped to 105.4, a 1.2 point decrease from September, with a reading above 100 indicating more optimists than pessimists.
The deterioration was attributed to pessimistic views fueled by the stock market correction and ongoing military tensions in the Middle East. The subindex measuring people's assessment of the current economic conditions fell by 1 point to 82, while the outlook for future economic conditions dropped by 2 points to 88 over the same period.
The KOSPI, a benchmark stock price index, declined by 15.7 percent in the first three weeks of October due to renewed concerns about large-scale artificial intelligence (AI) infrastructure investments. The BOK survey surveyed 2,500 households between October 13 and 20.
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